PPG Industries, Inc. $PPG Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,745 shares of the specialty chemicals company’s stock after selling 330 shares during the quarter. BLB&B Advisors LLC’s holdings in PPG Industries were worth $540,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after purchasing an additional 592,152 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after acquiring an additional 1,766,518 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after acquiring an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in PPG Industries by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after acquiring an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in PPG Industries by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after acquiring an additional 60,301 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group reduced their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America reduced their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a report on Thursday, October 16th. Finally, Royal Bank Of Canada raised their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.30.

PPG Industries Trading Down 1.8%

Shares of PPG stock opened at $97.34 on Friday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The stock has a market cap of $21.97 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.13 and a beta of 1.16. The business has a fifty day simple moving average of $105.97 and a 200-day simple moving average of $108.99. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.